The study, released today by consultant John Dalton, concludes that supporting the Labrador project would cost $1.5 billion less than using a mix of wind and natural gas over the 35 year life of the commercial contract for the hydro project.

The projected costs are based on 2017 dollars, which is when the project is expected to be online.

The study uses a computer model to compare the differences in the costs between the three options considered.

In the case of Quebec Hydro, Dalton says Muskrat Falls would help Nova Scotia avoid transmission tariffs described as “relatively high.”

The report says the greatest uncertainty in generating more power through wind and gas would be the cost of upgrading gas pipelines, estimated to be in the hundreds of millions of dollars.